United Services Automobile Association Increases Stock Holdings in Wright Medical Group NV (NASDAQ:WMGI)

United Services Automobile Association raised its stake in Wright Medical Group NV (NASDAQ:WMGI) by 22.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,487 shares of the medical device company’s stock after purchasing an additional 4,819 shares during the period. United Services Automobile Association’s holdings in Wright Medical Group were worth $790,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Wright Medical Group during the second quarter worth approximately $56,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Wright Medical Group during the second quarter worth approximately $118,000. Signition LP purchased a new position in shares of Wright Medical Group during the second quarter worth approximately $215,000. Quantamental Technologies LLC purchased a new position in shares of Wright Medical Group during the second quarter worth approximately $282,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Wright Medical Group during the second quarter worth approximately $301,000.

In related news, SVP Barry J. Regan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $21.50 per share, with a total value of $215,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin D. Cordell sold 1,263 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $21.21, for a total value of $26,788.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 94,654 shares of company stock valued at $2,021,859 and have sold 3,357 shares valued at $70,822. 3.80% of the stock is owned by company insiders.

Shares of NASDAQ WMGI opened at $20.40 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a fifty day moving average price of $20.71 and a 200 day moving average price of $26.88. Wright Medical Group NV has a 1-year low of $19.04 and a 1-year high of $32.86. The company has a market cap of $2.50 billion, a PE ratio of 219.11, a P/E/G ratio of 7.11 and a beta of 0.81.

Wright Medical Group (NASDAQ:WMGI) last issued its quarterly earnings results on Wednesday, August 7th. The medical device company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Wright Medical Group had a positive return on equity of 1.38% and a negative net margin of 14.65%. The firm had revenue of $229.73 million during the quarter, compared to the consensus estimate of $233.04 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts anticipate that Wright Medical Group NV will post 0.17 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. Bank of America lowered shares of Wright Medical Group from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research report on Friday, August 9th. BidaskClub upgraded shares of Wright Medical Group from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets lowered their target price on shares of Wright Medical Group from $36.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Oppenheimer lowered their target price on shares of Wright Medical Group from $34.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 target price (down from $38.00) on shares of Wright Medical Group in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Wright Medical Group has a consensus rating of “Buy” and a consensus target price of $30.50.

Wright Medical Group Company Profile

Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells upper and lower extremities, and biologics products in the United States, Europe, the Middle East, Africa, Canada, Asia, Australia, and Latin America. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.

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Institutional Ownership by Quarter for Wright Medical Group (NASDAQ:WMGI)

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